Updated on 3/26/2024
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Indiana. Below you will find the following information:
Lawsuit loan companies serving Indiana
Below you will find a list of companies that provide funding in Indiana. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Indiana residents
We recommend the following companies for plaintiffs residing in Indiana.
Our pick for low rate lawsuit loans
USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Our pick for fast lawsuit settlement loans
Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.
See our full list of recommended companies here.
Lawsuit funding laws, regulation, and relevant ethics opinions in Indiana
Indiana’s Civil Proceeding Advance Payments statute regulates lawsuit lending in the state and imposes maximum interest charges on legal funding companies in the state. Many pre-settlement funding companies service Indiana.
Laws regarding lawsuit loans in Indiana
See IN Code § 24-12-4-1 (2019). Civil Proceeding Advance Payments: Indiana state law defines and regulates “Civil Proceeding Advance Payment (CPAP) Transaction(s).” The statute requires registration for companies providing loans in excess of a set number per year. The statute indicates that lawsuit loan interest rates are subject to maximums set in Indiana’s UCCC (IC 24-4.5): 36% annual rate cap, 7% service charge cap, and a maximum fee of $200 – $500 based on the size of the lawsuit advance.
Source: IN Code § 24-12-4-1 (2019) Civil Proceeding Advance Payments
Can a lawyer lend money to a client in Indiana?
While an attorney in Indiana cannot cover living expenses for a client, they can cover the costs of litigation, or advance all litigation and court fees to the end.
Source: Indiana Rules of Professional Conduct 1.8(e)
Can attorneys help clients receive lawsuit loans in Indiana?
Attorneys may not guarantee loans to clients. Standard funding agreements do not require this.
Source: Indiana Rules of Professional Conduct 1.8(e)
Lawsuit loan alternatives in Indiana
Lawsuit loans are expensive. Plaintiffs in Indiana should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Get Help Paying for Rent Expenses in Indiana – if you are unable to pay your rent, this program can provide up to 12 months of assistance to cover past due rents and utilities, as well as ongoing rent payments.
- Food Banks in Indiana – provides links to various food banks. Find a location in your area to get more information on the programs that are offered.
- Low Income Energy Assistance Program – offers payment assistance to low-income households that need help to pay for heat and electric bills. Grants are available to offset the cost of heating your home and to restore service that has been disconnected.